topic Re: Discover - How to get a decent credit limit? in Credit Cards

Discover - How to get a decent credit limit?

Anonymous — Thu, 17 Apr 2014 19:00:21 GMT

What type of useage does Discover like to see for CLI's? I've had my discover card for a couple years now and they are definitely the most stingy with limits. I believe the card started out at $2k and now it's only at $3,500. I did a HP CLI and only received a $500 increase.

The funny thing is my BOA card has a $50k limit, chase is at $10k, citi $10k, etc etc.

Any idea? Thanks!

Re: Discover - How to get a decent credit limit?

shane1120 — Thu, 17 Apr 2014 19:07:25 GMT

@Anonymous wrote:
What type of useage does Discover like to see for CLI's? I've had my discover card for a couple years now and they are definitely the most stingy with limits. I believe the card started out at $2k and now it's only at $3,500. I did a HP CLI and only received a $500 increase.

The funny thing is my BOA card has a $50k limit, chase is at $10k, citi $10k, etc etc.

Any idea? Thanks!

I would have to disagree with them being stingy. i started last August with the IT card that had an $800 limit. 6 months later i got it increased to 2k then just today i took a fresh hard pull to get it to 5k. they have been my go to card. I PIF every month an never had over 15% UTIL on it.

Re: Discover - How to get a decent credit limit?

Kenny — Thu, 17 Apr 2014 19:30:08 GMT

They, like every other credit card company out there, like usage. Some have said they like it when you leave a balance to report or to carry a balance for a little while. I've done all of it. I've received the most CLIs with Discover when I am paying in full. I've gone from 1.5k to 12k over the past 2 years and all with SPs. So no, they are NOT stingy. You have to be patient -- they are no BofA in the way that you can put that you want 25k or 50k or 10k and get approved after a day or two. With my BoA I've had very little usage and got both of my cards there to 7.5k. Don't think I've received a sp CLI there at all. It's all in how you go about getting the CLIs, and also how often you ask for one.

Have you tried the automated line to ask for a CLI? Also, you can do a secure message to ask for a CLI. (You can say travel or whatever the reason you'd like. I've found they might ask for a HP, you simply say that's ok -- I'd prefer to not have a HP. I withdrew my request, and it was still granted.)

Wanted to edit this to add that just because you have one card that is a certain amount doesn't mean that the other companies have to fall in line with that level of risk. (It's their perogative to be conservative, and it's your's to cancel if you want.)

Re: Discover - How to get a decent credit limit?

Anonymous — Thu, 17 Apr 2014 20:39:49 GMT

I started my card out in May of 2013 with a $1500 CL. I used the card and PIF some months and left a high balance on others. I got an increase in Feb to $4500 (HP). Then recently I just got an increase to $9000. ( Reporting under 10% of CL for the past 2 months). Yesterday I called and asked to increase it to 10k and they did it without a credit pull. My other credit limits on my other card are no where near this one.

Re: Discover - How to get a decent credit limit?

yudeology101 — Thu, 17 Apr 2014 19:32:46 GMT

Was your $500 CLI done through luv button online or was it done through talking to an analyst? I would talk to an analyst and see if they can do anything better. My only guess is that your internal scoring w/ Discover may be low for whatever reason, perhaps you should talk to them about it if you haven't done so.

Re: Discover - How to get a decent credit limit?

Kenny — Thu, 17 Apr 2014 19:33:40 GMT

@Anonymous wrote:
I started my card out in May of 2013 with a $1500 CL. I used the card and PIF some months and left a high balance on others. I got an increase in Feb to $4500 (HP). Then recently I just got an increase to $9000. ( Reporting under 10% of CLI for the past 2 months). Yesterday I called and asked to increase it to 10k and they did it without a credit pull. My other credit limits on my other card are no where near this one.

Good job. Another example.. just saying. lol

Re: Discover - How to get a decent credit limit?

Stralem — Thu, 17 Apr 2014 19:48:15 GMT

It took a HP, but I got bumped to $5K because I wanted to take advantage of a balance transfer offer that was about to expire.

Re: Discover - How to get a decent credit limit?

shane1120 — Thu, 17 Apr 2014 19:48:54 GMT

@yudeology101 wrote:
Was your $500 CLI done through luv button online or was it done through talking to an analyst? I would talk to an analyst and see if they can do anything better. My only guess is that your internal scoring w/ Discover may be low for whatever reason, perhaps you should talk to them about it if you haven't done so.

mine was via rep on phone.

Re: Discover - How to get a decent credit limit?

awp317 — Thu, 17 Apr 2014 23:36:59 GMT

IDK they gave me 10k as a starting limit so I cant say they are stingy, but since they to me arent a major player like amex or chase they probably wont extend super high limits. Just depends on your income IMO. IM honestly happy to see the banks cutting back a bit. Thats what got us in the credit crunch mess to begin with that makes getting loans so difficult.

Re: Discover - How to get a decent credit limit?

maceto — Fri, 18 Apr 2014 00:57:55 GMT

Well I think their internal score factors more age of accounts and inquires more than most. A bit like penfed.. As I have 33K with Amex and a premier gold. 23 in total with Chase. Stinky Discover want a HP for anything over 500.. My current line is 3K and I have less than two years and 7-10 pulls last two years depending on which fico you pull

Re: Discover - How to get a decent credit limit?

lostsols — Fri, 18 Apr 2014 02:54:49 GMT

Went from $1k to $24k in under 2 years. Nothing special, just quarterly or semi-annual sp cli's. Extremely heavy usage for the first year or so, and virtually no usage since then.

Re: Discover - How to get a decent credit limit?

Anonymous — Fri, 18 Apr 2014 03:26:54 GMT

Haha!until last year October 2013 I had no major credit cards.... but had a discover student loan.october 2013 I wanted a card, and so I started with citi and they turned me down twice in two weeks. Two hard pulls. Then I turned to discover and voila! approved. Called to find out by how much and I was told 7500 limit. So I used the card for six months. It turned six months this April. So I went online last week,request a credit limit increase of 4500... I wanted to round it up to $12000 if u know what I mean. 60 seconds went by and voila! Approved for $4000 increase. Not the full 4500 I asked for. But I took it and fled. So my limit now stands at $11500. And six months ago I had no major credit card except my Macys and GEHhGregg card. Men I love discover. It pays to u know what!discover!

Re: Discover - How to get a decent credit limit?

RushXTC — Fri, 18 Apr 2014 03:31:56 GMT

I've always paid double the minimum payment, Then I load up more than that... Until recently where I had medical expenses, I got it up to $2,400 out of my $2,500 limit.

I dropped it to $1,900 and another expense came up, Asked for SP CLI and they denied me. I forgot what the letter say... But I didn't even get a counter offer to the $5,000 I was asking for.. nothing at all..

I just sent a $500 payment 2 days ago, Will wait another 2 months to drop it to a $1,000 balance before asking again.

Re: Discover - How to get a decent credit limit?

7PM789 — Fri, 18 Apr 2014 04:03:44 GMT

ł just did a request and got bumped from 3.8k to 7.5k

ł probably should've asked for more but ł'm fairly certain it was a soft pull so ł'll take it!

Re: Discover - How to get a decent credit limit?

bk510 — Fri, 18 Apr 2014 07:20:21 GMT

@shane1120 wrote:
@Anonymous wrote:
What type of useage does Discover like to see for CLI's? I've had my discover card for a couple years now and they are definitely the most stingy with limits. I believe the card started out at $2k and now it's only at $3,500. I did a HP CLI and only received a $500 increase.

The funny thing is my BOA card has a $50k limit, chase is at $10k, citi $10k, etc etc.

Any idea? Thanks!
I would have to disagree with them being stingy. i started last August with the IT card that had an $800 limit. 6 months later i got it increased to 2k then just today i took a fresh hard pull to get it to 5k. they have been my go to card. I PIF every month an never had over 15% UTIL on it.

Bofore or after statement cuts?

Re: Discover - How to get a decent credit limit?

bk510 — Fri, 18 Apr 2014 07:29:06 GMT

@awp317 wrote:
IDK they gave me 10k as a starting limit so I cant say they are stingy, but since they to me arent a major player like amex or chase they probably wont extend super high limits. Just depends on your income IMO. IM honestly happy to see the banks cutting back a bit. Thats what got us in the credit crunch mess to begin with that makes getting loans so difficult.

Speak for your self,

Re: Discover - How to get a decent credit limit?

bk510 — Fri, 18 Apr 2014 07:30:48 GMT

@lostsols wrote:
Went from $1k to $24k in under 2 years. Nothing special, just quarterly or semi-annual sp cli's. Extremely heavy usage for the first year or so, and virtually no usage since then.

Cool,

Re: Discover - How to get a decent credit limit?

lg8302ch — Fri, 18 Apr 2014 07:31:52 GMT

To me it looks that Discover looks at the other cards and limits and compares it to income ...I noticed that customers without a ton of other cards or high limits get really nice limits with Discover but if your CLs are already over your income then they really start you with low limits. I got 2,5K when my other cards were 5K-25K and Discover would not budge to even increase by 500$ ...go figure... With time and a lot of patience (15 months) it worked for me to have Discover adjust my limit to my next lower card my Freedom.. Now I am happy and will leave it alone.

Re: Discover - How to get a decent credit limit?

bk510 — Fri, 18 Apr 2014 07:33:38 GMT

@Anonymous wrote:
Haha!until last year October 2013 I had no major credit cards.... but had a discover student loan.october 2013 I wanted a card, and so I started with citi and they turned me down twice in two weeks. Two hard pulls. Then I turned to discover and voila! approved. Called to find out by how much and I was told 7500 limit. So I used the card for six months. It turned six months this April. So I went online last week,request a credit limit increase of 4500... I wanted to round it up to $12000 if u know what I mean. 60 seconds went by and voila! Approved for $4000 increase. Not the full 4500 I asked for. But I took it and fled. So my limit now stands at $11500. And six months ago I had no major credit card except my Macys and GEHhGregg card. Men I love discover. It pays to u know what!discover!

Thats a trip.....

Congrats,

Re: Discover - How to get a decent credit limit?

Anonymous — Mon, 28 Apr 2014 17:21:17 GMT

After using my Discover card as my main card for the past month or so I went ahead and requested a CLI of $1500 and they approved it with a SP.

Thanks for all the info guys.